Mortgage News Aug 2009

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Former real estate agent gets 15 years for mortgage fraud
A former Twin Cities real estate agent convicted of mortgage and identity fraud has been sentenced to 15 years in prison. (Fri, 14 Aug 2009 20:08:12 GMT)

Guest column: New mortgage plan great idea for seniors
I am the owner of a local real estate company who recently decided to buy a new home. As an official senior citizen I found that, along with the many other changes that one experiences, the thought of buying a new home no longer filled me with excitement, but dread. The thought of being forced into one more long-term mortgage with the monthly ritual of payments was enough to make me reconsider ... (Fri, 14 Aug 2009 20:47:34 GMT)

Capitol Report: Mortgage giants Fannie, Freddie under scrutiny
Almost one year after Fannie Mae and Freddie Mac were effectively nationalized in the midst of an expanding economic crisis, policymakers have still yet to come to a conclusion about what to do with the quasi-governmental mortgage giants. (Fri, 14 Aug 2009 20:57:29 GMT)

HSBC to step up mortgage lending in India (Business Times
MUMBAI: HSBC will step up mortgage lending in India after keeping to the sidelines for the past 18 months, and plans a cautious resumption of growth in consumer finance after unsecured loans soured across the industry, the global bank's country chief executive said. (Fri, 14 Aug 2009 21:47:47 GMT)

Former NBA player guilty of mortgage fraud
HOUSTON -- A former NBA player has pleaded guilty in a mortgage fraud case that involved the sale of 24 homes in Houston suburbs. U.S. (Fri, 14 Aug 2009 22:57:03 GMT)

Cuyahoga County grand jury indicts 12 people, 3 companies in mortgage fraud scheme
A Cuyahoga County grand jury indicted 12 people and three companies Friday in what prosecutors say was a brazen $14.7 million mortgage fraud scheme involving seven upscale houses -- some with waterfront views. Prosecutors say a California woman orchestrated the... (Sat, 15 Aug 2009 00:43:10 GMT)

Former Houston Rocket faces prison for mortgage fraud
A former NBA player has pleaded guilty in a mortgage fraud case that involved the sale of 24 homes in Houston suburbs. (Sat, 15 Aug 2009 02:10:52 GMT)

Bankers meet with homeowners trying to refinance
BRIDGEPORT -- After almost two years of fighting foreclosure and several hours of waiting Friday, the Davis family, of Bridgeport, walked out of a meeting with Wells Fargo bankers with only a pledge (Sat, 15 Aug 2009 02:47:23 GMT)

Wheeling Park Wins Big 5 Golf Tourney
With mortgage rates still near historic lows, now may be a good time to refinance. Fixed rates as low as 6.0%. *See terms. Full Story ›› There is no absolute number of drinks per day that defines alcoholism. Learn the behavior and body reactions that constitute alcoholism. (Sat, 15 Aug 2009 02:49:34 GMT)

Mortgage money is still available
Lisa Siranovich, owner of Sail Mortgage in Wexford, has been in the mortgage business for 18 years. Staff writer Gretchen McKay interviewed her about local real estate trends. (Sat, 15 Aug 2009 04:18:11 GMT)

Mortgage applications up in R.I.
The mortgage industry is bouncing back, but the landscape looks vastly different than before the implosion began more than 18 months ago. (Sat, 15 Aug 2009 04:22:45 GMT)

Former NBA player Gondrezick guilty of mortgage fraud
Former NBA player Grant Gondrezick has pleaded guilty in a mortgage fraud case that involved the sale of 24 homes in Houston suburbs. (Sat, 15 Aug 2009 05:49:19 GMT)

Former NBA player guilty of mortgage fraud
HOUSTON -- Former NBA player Grant Gondrezick has pleaded guilty in a mortgage fraud case that involved the sale of 24 homes in Houston suburbs. U.S. Attorney Tim Johnson announced the plea by the 45-year-old Gondrezick on Friday. (Sat, 15 Aug 2009 05:59:25 GMT)

Brooklyn Center man pleads guilty to mortgage fraud
A Brooklyn Center man pleaded guilty Friday, Aug. 14, in federal court to using money deposited on behalf of his mortgage clients for his own personal benefit. (Sat, 15 Aug 2009 06:30:33 GMT)

Number of home owners falling behind with mortgage repayments rises CML says
Drop in overall repossessions mask a hidden crisis in the housing market with repossessions expected to rise in months ahead the Council of Mortgage Lenders said. (Sat, 15 Aug 2009 07:00:04 GMT)

Free Mortgage Fraud Webcast Available Today
Polk residents interested in learning about mortgage fraud and foreclosure scams can find out more by logging on to www.theledger.com/pgtv today from 9 a.m. to 1 p.m. The webcast will feature a live town hall meeting presented by Attorney General Bill McCollum and Florida's Interagency Mortgage Fraud Task Force, held at Stetson University College... (Sat, 15 Aug 2009 07:38:15 GMT)

Home foreclosures increase
GLENDALE — Home foreclosures and loan default notifications jumped by 10% in June and were 55% higher than they were a year ago, but rates remain far lower in Glendale, Burbank and La Cañada Flintridge than averages for Los Angeles County and California, according to real estate firm RealtyTrac. (Sat, 15 Aug 2009 08:35:47 GMT)

Peter Boutell, Lendng a Hand: Mortgage disclosure rules have changed again
In another attempt to provide full disclosure to borrowers, the Fed has mandated some changes in the way closing costs and interest rates are disclosed to prospective homebuyers and refinancing homeowners. (Sat, 15 Aug 2009 09:00:24 GMT)

No jail for mortgage move man
A DEBT-STRICKEN businessman illegally fiddled his mortgage to try to escape creditors chasing him for £66,000 from a gambling habit. (Sat, 15 Aug 2009 10:24:24 GMT)

Homeowner Confused After Mortgage Lender Is Shuttered
A New Hampshire homeowner says he's left 'in the dark' following the shuttering of the nation's 12th largest home-loan company after it was suspended last week by federal agencies. (Sat, 15 Aug 2009 13:54:08 GMT)

Marco bank absorbs Island Mortgage employees
Marco Community Bank has hired all of the employees of Island Mortgage and begun offering an extended line of financial products, including home loans. (Sat, 15 Aug 2009 14:46:35 GMT)

Gondrezick guilty in mortgage fraud case
Former NBA player Grant Gondrezick has pleaded guilty in a mortgage fraud case that involved the sale of 24 homes in Houston suburbs. U.S. Attorney Tim Johnson announced the plea by the 45-year-old Gondrezick on Friday. The former Houston resident faces up to five years in prison, a fine of up to $250,000, and more $1 million in restitution for conspiring to commit wire fraud. (Sat, 15 Aug 2009 15:39:27 GMT)

Bank blamed for home loss
A family facing financial ruin after losing their home in a row over mortgage break fees blame their bank for their plight. Steve and Lise Forbes Moody owe Westpac $145,000, eight months after the bank refused to waive a $28,500 fee to amend their home loan conditions. (Sat, 15 Aug 2009 16:25:40 GMT)

Ex-NBA player Gondrezick guilty of mortgage fraud
Former NBA player Grant Gondrezick has pleaded guilty in a mortgage fraud case that involved the sale of 24 homes in Houston suburbs. (Sat, 15 Aug 2009 16:57:41 GMT)

It's time to consider refinancing loan
Interest rates often fall during tough economic times. That's good news for homeowners who would like to shave a few dollars off their monthly mortgage payments. That's because when interest rates fall, it's time to consider refinancing your mortgage loan. (Sat, 15 Aug 2009 17:57:44 GMT)

The 90% loan is back, but that doesn't mean first timers can get one
First-time buyers could be dipping their toes back into the property market, according to home loan website Mortgageforce.co.uk. The proportion of total enquires about setting up a new mortgage coming from first-time buyers rose from 9 per cent in June to 20 per cent in July, it says. And the property market needs first-time buyers badly as they represent new blood; without them, eventually, ... (Sat, 15 Aug 2009 23:09:56 GMT)

Foreclosure intervention, mortgage assistance can help avoid foreclosure
The young man in Evelyn Branch’s Broad Street office kept running his fingers through his hair. (Sun, 16 Aug 2009 03:17:22 GMT)

Retiring? Pay Off Your Mortgage
The collapse of the real-estate market is teaching a painful lesson to many seniors about the risks of carrying debt into retirement. (Sun, 16 Aug 2009 03:46:37 GMT)

West St. Paul woman risked her home for her son. Now she may lose both.
At first, Debra Thul said no. Her son, extreme fighting promoter Carey Thul, wanted to use her West St. Paul home as collateral to secure an $189,000 loan. The money would be his investment in a flashy nightclub and an upscale Italian restaurant being built in Block E. (Sun, 16 Aug 2009 05:12:59 GMT)

Brooklyn Center man pleads guilty to mortgage fraud
A Brooklyn Center man pleaded guilty Friday, Aug. 14, in federal court to using money deposited on behalf of his mortgage clients for his own personal benefit. (Sun, 16 Aug 2009 06:30:43 GMT)

Obituary: John Stassi, 67, built mortgage banking career
John B. Stassi, a Sacramento native who built a successful mortgage banking career with lessons learned at his family's mom-and-pop store, died Tuesday at age 67. (Sun, 16 Aug 2009 07:04:17 GMT)

Consumer loan rates
Springfield financial institutions quoted the following rates Friday for home equity, auto and boat loans. The home equity rate is based on a $10,000 loan or line of credit with applicable points included. Rates are variable unless otherwise noted. Additional fees are not included. The auto loan rate is based on a 48-month contract for a new car. The boat rate is based on a loan for a new boat. (Sun, 16 Aug 2009 08:06:19 GMT)

At closing, more buyer protections
New rules require that mortgage costs be disclosed within 3 business days of loan application If you're applying for a loan to purchase a primary or secondary home, or planning to refinance, you should be aware of a little-publicized new set of federal consumer-protection rules that took effect July 30. (Sun, 16 Aug 2009 08:25:34 GMT)

Home foreclosures increase
GLENDALE — Home foreclosures and loan default notifications jumped by 10% in June and were 55% higher than they were a year ago, but rates remain far lower in Glendale, Burbank and La Cañada Flintridge than averages for Los Angeles County and California, according to real estate firm RealtyTrac. (Sun, 16 Aug 2009 08:50:09 GMT)

State law to protect in loan re-do
Mortgage modification companies say they'll help renegotiate your loan and save your home. But not all have your best interests in mind. (Sun, 16 Aug 2009 09:41:19 GMT)

Mortgage giant's fall leaves a messy wake
By Fred Hiers Staff writer Complaints from Taylor, Bean & Whitaker Mortgage Corp. customers ran the gamut following the collapse of the giant wholesale lender. But could most of it have been avoided with better oversight and planning? (Sun, 16 Aug 2009 10:04:55 GMT)

Mortgage rates inching up
Rates on 30-year mortgages rose last week, remaining above 5 percent after reaching a record low earlier this year, Freddie Mac said Thursday. The average rate on a 30-year fixed-rate mortgage was 5.29 percent last week, up from 5.22 percent the previous... (Sun, 16 Aug 2009 10:42:18 GMT)

Knill grateful for Robertson loan
Bury manager Alan Knill showed his gratitude to Sheffield United after on-loan striker Jordan Robertson marked his debut with the goal which secured a 1-0 win at Darlington. (Sun, 16 Aug 2009 10:57:04 GMT)

Lenders Unload Mortgage Debt
Lenders have come under fire for failing to modify troubled mortgages in a way that borrowers can actually pay for the home. Now, in particularly hard hit real estate markets like Cleveland, some borrowers are finding lenders offering them a surprising solution to their mortgage problems. (Sun, 16 Aug 2009 13:20:22 GMT)

Facing foreclosure? Here are some steps you can take
If rising mortgage interest rates are taking a toll on you while the market value of your home declines you’re not alone. (Sun, 16 Aug 2009 17:47:04 GMT)

Foreclosure intervention, mortgage assistance can help avoid foreclosure
The young man in Evelyn Branch’s Broad Street office kept running his fingers through his hair. (Sun, 16 Aug 2009 17:47:34 GMT)

Bankrate: Mortgage Rates Post Mixed Results
RISMEDIA, August 17, 2009-The average 30-year fixed mortgage rate inched higher to 5.67 percent this week, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.36 discount and origination points. The average 15-year fixed rate mortgage fell to 4.93 percent, while the average jumbo 30-year ... (Sun, 16 Aug 2009 18:19:23 GMT)

Marco bank absorbs Island Mortgage employees
Marco Community Bank has hired all of the employees of Island Mortgage and begun offering an extended line of financial products, including home loans. (Sun, 16 Aug 2009 18:31:56 GMT)

Woman's dilemma: Pay off mortgage or hike savings?
Mandy is an independent 53-year-old woman. When she reaches retirement at age 62, she hopes to be mortgage-free. But she knows that every cent she pays towards her mortgage is one penny less that lands in her retirement savings accounts.... (Sun, 16 Aug 2009 20:19:31 GMT)

Banks relaxing home loan criteria
Banks are relaxing their lending conditions as house prices stabilise, making it easier for would-be homeowners to get into the property market. Mortgage brokers around the country say banks are now willing to consider loan applications that just a few months ago would have been flatly declined. (Sun, 16 Aug 2009 20:50:32 GMT)

FE Editorial : Own sweet home
The new tax code's proposal on removing home loan interest exemption-Rs 1.5 lakh for self-occupied property-may have surprised many, but the fact is that first-time buyers of a property do not take their decision based on tax sops alone. (Sun, 16 Aug 2009 21:33:57 GMT)

Mortgage aid program helping fraction of borrowers
WASHINGTON - The government's $50 billion program to ease the mortgage crisis is helping only a small fraction of struggling homeowners, and a list released yesterday showed which lenders are laggards. (Sun, 16 Aug 2009 22:46:13 GMT)

Facing foreclosure? Here are some steps you can take
If rising mortgage interest rates are taking a toll on you while the market value of your home declines you’re not alone. (Sun, 16 Aug 2009 22:46:52 GMT)

Foreclosure intervention, mortgage assistance can help avoid foreclosure
The young man in Evelyn Branch’s Broad Street office kept running his fingers through his hair. (Sun, 16 Aug 2009 22:47:22 GMT)

Balkan loan guarantors struggle to pay others' debts
SARAJEVO (Reuters) - When Alma, a Bosnian single mother of two, agreed to act as a loan guarantor for a colleague, she never imagined the day would come when she would actually have to pay the debt. (Mon, 17 Aug 2009 03:20:17 GMT)

Playhouse stages renovation after mortgage paid
LISBON - The Stage Left Players of Lisbon recently burned the mortgage papers for the Trinity Playhouse as the result of a generous donation from patron Kathleen Presley. (Mon, 17 Aug 2009 05:14:58 GMT)

Foreclosure intervention, mortgage assistance can help avoid foreclosure
The young man in Evelyn Branch’s Broad Street office kept running his fingers through his hair. (Mon, 17 Aug 2009 05:16:52 GMT)

Mortgage market frets over government’s role
The federal government has practically taken control of the country’s mortgage finance system, leaving bankers and brokers alike wondering about the future. (Mon, 17 Aug 2009 05:27:58 GMT)

Home foreclosures increase
GLENDALE — Home foreclosures and loan default notifications jumped by 10% in June and were 55% higher than they were a year ago, but rates remain far lower in Glendale, Burbank and La Cañada Flintridge than averages for Los Angeles County and California, according to real estate firm RealtyTrac. (Mon, 17 Aug 2009 05:49:47 GMT)

Brooklyn Center man pleads guilty to mortgage fraud
A Brooklyn Center man pleaded guilty Friday, Aug. 14, in federal court to using money deposited on behalf of his mortgage clients for his own personal benefit. (Mon, 17 Aug 2009 06:28:59 GMT)

Bruce Gow of Mortgage HQ Comments on Lines of Credit & the Global Financial Crisis
Bruce Gow of Mortgage HQ comments on whether easy access to credit has contributed to the GFC. Lines of credit have been a flexible way of people gaining access to funds secured by their own homes. Can this easy access to credit be easily taken away? Has this contributed to the GFC in Australia? (Mon, 17 Aug 2009 07:01:00 GMT)

Bruce Gow of Mortgage HQ Comments on Lines of Credit & the Global Financial Crisis
Bruce Gow of Mortgage HQ comments on whether easy access to credit has contributed to the GFC. Lines of credit have been a flexible way of people gaining access to funds secured by their own homes. Can this easy access to credit be easily taken away? Has this contributed to the GFC in Australia? (PRWeb Aug 17, 2009) Read the full story at ... (Mon, 17 Aug 2009 07:17:47 GMT)

SUSAN TOMPOR: Q+A: Tips for modifying your home loan
QUESTION: What are some good tips for trying to get a home loan modified? (Mon, 17 Aug 2009 07:31:47 GMT)

China's CIC to buy U.S. mortgage paper: report
China’s $200 billion sovereign wealth fund, China Investment Corp., is preparing to invest up to $2 billion in U.S. mortgage securities, according to a media report Monday. (Mon, 17 Aug 2009 09:27:19 GMT)

Paying off mortgage not risk-free
Paying off a home mortgage can make sense, but it may not be as risk-free as it initially appears. (Mon, 17 Aug 2009 10:00:00 GMT)

Marco bank absorbs Island Mortgage employees
Marco Community Bank has hired all of the employees of Island Mortgage and begun offering an extended line of financial products, including home loans. (Mon, 17 Aug 2009 10:01:43 GMT)

TransUnion.com: Mortgage Loan Delinquency Rates Rise - But Pace Is Slowing
TransUnion.com released today the results of its analysis of trends in the mortgage industry for the second quarter of 2009 and the associated impact on the U.S. consumer. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data available on TransUnion's Web site at www.transunion.com/trenddata. (Mon, 17 Aug 2009 10:07:00 GMT)

Sunderland Set To Sign Lyon's John Mensah On Loan
Sunderland manager Steve Bruce is hoping to conclude a deal to bring Lyon defender John Mensah on loan to the north-east. (Mon, 17 Aug 2009 11:11:37 GMT)

Paying off mortgage not risk-free
Dear Dr. Don, I am thinking of paying off my mortgage. I have an interest rate of 6.5 percent and about $80,000 left on the mortgage. I have enough liquid assets to pay it off completely. What are the pros and cons of doing this? (Mon, 17 Aug 2009 11:34:05 GMT)

Answer Desk: Paying off your mortgage
With foreclosures rising and mortgage companies flooded with borrowers in trouble, is it a good idea to just pay the thing off if you can afford to? The Answer Desk, by John W. Schoen. (Mon, 17 Aug 2009 12:52:43 GMT)

Retiring? Pay Off Your Mortgage
The collapse of the real-estate market is teaching a painful lesson to many seniors about the risks of carrying debt into retirement. (Mon, 17 Aug 2009 14:05:44 GMT)

Government & Public Sector
As noted in the Waller Lansden bulletin circulated on July 10, 2009, the U.S Department of Housing and Urban Development (HUD), expanded the 242 Hospital Mortgage Insurance Program to permit eligible hospitals to use 100 percent of loan proceeds from the HUD 242 Program to refinance existing debt. (Mon, 17 Aug 2009 16:22:04 GMT)

Facing foreclosure? Here are some steps you can take
If rising mortgage interest rates are taking a toll on you while the market value of your home declines you’re not alone. (Mon, 17 Aug 2009 16:31:53 GMT)

Foreclosure intervention, mortgage assistance can help avoid foreclosure
The young man in Evelyn Branch’s Broad Street office kept running his fingers through his hair. (Mon, 17 Aug 2009 16:32:13 GMT)

Velicka secures Bristol City loan
Striker Andrius Velicka completes his year-long loan to Bristol City from Rangers. (Mon, 17 Aug 2009 16:53:39 GMT)

Mortgage delinquencies up for 8th straight quarter
The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. (Mon, 17 Aug 2009 17:34:46 GMT)

Mortgage delinquencies up for 8th straight quarter
CHICAGO (AP) — The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. The credit reporting agency said its database shows delinquencies — or the percentage of mortgage holders at least 60 days behind on payments, considered a precursor to foreclosure — jumped to ... (Mon, 17 Aug 2009 17:56:25 GMT)

STORY REMOVED: TransUnion-Mortgage Delinquencies
The Associated Press has withdrawn its story about mortgage delinquencies in the fourth quarter of 2008. The story contained dated information. A corrected story will be sent... Sponsored Topics: TransUnion - Mortgage - Credit score - Credit bureau - Business (Mon, 17 Aug 2009 18:01:41 GMT)

(AFX UK Focus) 2009-08-17 18:44 RLPC-Abu Dhabi power project close to $1.1 bln loan-bankers
LONDON, Aug 17 (Reuters) - Sponsors of the Shuweihat 2 power generation and water desalination project in Abu Dhabi have lined up 12 banks to provide a $1.1 billion, 22-year bank loan to back the scheme, bankers close to the deal said. The lenders in the closing stages of agreeing the $1.1 billion loan are Bank of Tokyo-Mitsubishi UFJ, BayernLB , BNP Paribas, HSBC, KfW, Mizuho, National Bank of ... (Mon, 17 Aug 2009 18:07:51 GMT)

STORY REMOVED: TransUnion-Mortgage Delinquencies
The Associated Press has withdrawn its story about mortgage delinquencies in the fourth quarter of 2008. The story contained dated information. A corrected story will be sent shortly. (Mon, 17 Aug 2009 18:17:38 GMT)

Padilla Joins Chivas USA On Loan
Chivas USA announced today that it has acquired versatile Mexican-American forward Jesús Padilla, a 22-year-old product of Chivas de Guadalajara’s youth system who has made 24 appearances for Chivas’ first team, on loan from Club Deportivo Guadalajara. (Mon, 17 Aug 2009 18:38:53 GMT)

Mortgage deliquency rate hits all time high in 2Q
The delinquency rate on U.S. mortgage loans hit an all-time high in the second quarter, but the pace of growth for the rate slowed, a possible sign the mortgage crisis may be beginning to turn the corner. (Mon, 17 Aug 2009 18:39:01 GMT)

Mortgage delinquency rate hits an all-time high
The delinquency rate on mortgages hit an all-time high in the second quarter, but the pace of growth slowed, a possible sign the mortgage crisis may be beginning to turn the corner. (Mon, 17 Aug 2009 19:00:01 GMT)

Mortgage deliquency rate hits all time high in 2Q
The delinquency rate on U.S. mortgage loans hit an all-time high in the second quarter, but the pace of growth for the rate slowed, a possible sign the mortgage crisis may be beginning to turn the corner. Data provided by credit reporting agency TransUnion... Sponsored Topics: United States - Business - Mortgage loan - TransUnion - Financial Services (Mon, 17 Aug 2009 19:02:01 GMT)

Mortgage delinquency rate hits an all-time high
But the pace of growth for the rate slowed, a possible sign the mortgage crisis may be beginning to turn the corner. One expert says programs aimed at helping distressed homeowners may be working. (Mon, 17 Aug 2009 19:10:59 GMT)

Fed Cuts Pimco, Goldman From Mortgage-Bond Program (Update2)
Aug. 17 (Bloomberg) -- The Federal Reserve dropped Pacific Investment Management Co. and Goldman Sachs Group Inc. from the list of firms helping the central bank purchase as much as $1.25 trillion of mortgage securities this year. (Mon, 17 Aug 2009 19:49:38 GMT)

Fed survey: Banks say loan demand down
Banks across the nation made fewer business loans in the second quarter, largely because of weaker loan demand and deteriorating creditworthiness, according to a quarterly Federal Reserve survey of senior loan officers released on Monday. (Mon, 17 Aug 2009 20:27:00 GMT)

Refinance Volumes on the Rise for Fannie Mae and Freddie Mac
RISMEDIA, August 18, 2009-Fannie Mae and Freddie Mac refinanced more than 2.9 million mortgage loans in 2009 through July of this year. Since the inception of the Making Home Affordable Refinance Program (HARP) in April, Fannie Mae and Freddie Mac refinanced almost 1.9 million mortgage loans through July. The numbers ... (Mon, 17 Aug 2009 20:34:13 GMT)

Refinancing Borrowers Choose Shorter-Term Fixed-Rate Loans
RISMEDIA, August 18, 2009-Freddie Mac recently announced that in the second quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or fixed. Ninety-nine percent of prime borrowers who originally had a conforming ARM selected a new conforming fixed-rate mortgage when they ... (Mon, 17 Aug 2009 20:34:43 GMT)

Mortgage bankers group spent $761K lobbying in 2Q
The Mortgage Bankers Association spent $761,000 lobbying in the second quarter, when the lending industry scored a major victory in Congress by defeating an effort to let bankruptcy judges rewrite mortgages for strapped borrowers. (Mon, 17 Aug 2009 20:51:17 GMT)

Mortgage insurers spent $670K lobbying in 2Q
The trade group for mortgage insurers spent $670,000 lobbying in the second quarter as it pressed for aid from the federal government, according to a recent disclosure form. (Mon, 17 Aug 2009 20:53:40 GMT)

Big loan servicer closes
But you still have to send the check Thousands of Florida homeowners may not know where to send their next mortgage payment, because an Ocala firm that was one of the nation's largest loan servicers collapsed. (Mon, 17 Aug 2009 21:30:56 GMT)

Fed Cuts Pimco, Goldman From Mortgage-Bond Program (Update2)
Aug. 17 (Bloomberg) -- The Federal Reserve dropped Pacific Investment Management Co. and Goldman Sachs Group Inc. from the list of firms helping the central bank purchase as much as $1.25 trillion of mortgage securities this year. (Mon, 17 Aug 2009 21:45:44 GMT)

Home foreclosures increase
GLENDALE — Home foreclosures and loan default notifications jumped by 10% in June and were 55% higher than they were a year ago, but rates remain far lower in Glendale, Burbank and La Cañada Flintridge than averages for Los Angeles County and California, according to real estate firm RealtyTrac. (Mon, 17 Aug 2009 22:19:47 GMT)

Buy A Foreclosed Home And Get Up To $20,000 In A Forgivable Loan
Through the Neighborhood Stabilization Program, eligible buyers can receive a deferred forgivable loan of up to $20,000 for a down payment on a foreclosed home. (Mon, 17 Aug 2009 22:37:55 GMT)

Banks refuse father loan to help bring daughter home
A DEVOTED father who has watched his paralysed daughter languish in hospital for almost 19 months has been refused a loan by several banks that would help get her home. (Tue, 18 Aug 2009 01:38:46 GMT)

Australia NAB buys Challenger's mortgage business
National Australia Bank agrees to buy some parts of Challenger Financial Services Group’s mortgage business for A$385 million ($323 million), strengthening its presence in the Australian mortgage business. (Tue, 18 Aug 2009 01:42:19 GMT)

Christie Failed to Disclose Loan to Federal Prosecutor
News of the $46,000 loan and Christopher Christie’s failure to report it came as a jolt to his campaign for governor of New Jersey. (Tue, 18 Aug 2009 02:14:44 GMT)

National Australia Bank Buys Challenger Mortgage Unit (Update2)
Aug. 18 (Bloomberg) -- National Australia Bank Ltd. agreed to buy the mortgage business of Challenger Financial Services Group as Australia’s four-biggest lenders seek an increased share of the home loans market. (Tue, 18 Aug 2009 02:26:11 GMT)

Facing foreclosure? Here are some steps you can take
If rising mortgage interest rates are taking a toll on you while the market value of your home declines you’re not alone. (Tue, 18 Aug 2009 02:33:13 GMT)

Nearly a third of Dallas area mortgage holders upside down
More than 30 percent of Dallas-Fort Worth mortgage holders now owe more than their property is worth. (Tue, 18 Aug 2009 03:58:19 GMT)

Mortgage loans hit record high delinquency rate
The delinquency rate on U.S. mortgage loans hit an all-time high in the second quarter, but the pace of growth for the rate slowed, a possible sign the mortgage crisis may be beginning to turn the corner. Data provided by credit-reporting agency TransUnion show that the ratio of mortgage holders who are 60 days or more behind on their payments increased for the 10th straight quarter, to 5.81 ... (Tue, 18 Aug 2009 04:11:45 GMT)

Banks’ loan faucets still generally turned off
The Federal Reserve said yesterday that most banks expect their lending to remain tight through the second half of next year, with the exception of mortgage standards, which already are loosening a bit. The Fed’s latest survey of loan officers found that about 20 percent of U.S. banks tightened their lending standards on prime home mortgages in the April-June quarter, down from around 50 percent ... (Tue, 18 Aug 2009 04:12:15 GMT)

Loan professional joins local MetLife branch
Home loan professional Dee Weber joined the Lawrence mortgage branch of MetLife Home Loans, a division of MetLife Bank N.A. and member of the MetLife family of companies, in July. (Tue, 18 Aug 2009 05:02:44 GMT)

Box Elder News Journal - need a home loan
Need a Home Loan? Great Rates! Personal Service. All home loan products available. Free Vacation Getaway! 801-695-7411 teresa@northstarutah.com (Tue, 18 Aug 2009 05:26:55 GMT)

Home foreclosures increase
GLENDALE — Home foreclosures and loan default notifications jumped by 10% in June and were 55% higher than they were a year ago, but rates remain far lower in Glendale, Burbank and La Cañada Flintridge than averages for Los Angeles County and California, according to real estate firm RealtyTrac. (Tue, 18 Aug 2009 05:49:27 GMT)

National Australia Bank Buys Challenger Mortgage Unit (Update3)
Aug. 18 (Bloomberg) -- National Australia Bank Ltd. agreed to buy the mortgage business of Challenger Financial Services Group as Australia’s four-biggest lenders seek an increased share of the home loans market. (Tue, 18 Aug 2009 07:41:38 GMT)

Foreclosure intervention, mortgage assistance can help avoid foreclosure
The young man in Evelyn Branch’s Broad Street office kept running his fingers through his hair. (Tue, 18 Aug 2009 08:01:52 GMT)

Is an FHA-Insured Mortgage Right for You?
The days of putting little money down to buy a home aren’t over. After years of risky mortgages backed up by small down payments, most lenders aren’t underwriting mortgages without a significant sum up front and a high credit score. But a decades-old loophole can still put home buyers in a house for next to nothing. Mortgages insured by the Federal Housing Administration (FHA) allow borrowers to ... (Tue, 18 Aug 2009 10:08:19 GMT)

2 Ex-Indy Residents Charged With Mortgage Fraud
Two men have been indicted on charges they ran a mortgage fraud scheme that obtained at least 112 loans totaling more than $12 million. (Tue, 18 Aug 2009 11:31:01 GMT)

Futures Look to Reverse Monday Losses; Home Depot Beats
After Monday's big drop in U.S. stocks, Tuesday was looking a little brighter for Wall Street after Dow component Home Depot reported earnings that beat analysts' estimates by a significant margin. (Tue, 18 Aug 2009 11:43:25 GMT)

Save at the Settlement Table
If you're buying a house or refinancing a mortgage, don't pay more than you need to. (Tue, 18 Aug 2009 12:04:06 GMT)

ICICI Bank to focus on home, car loans: CEO
Leading private sector lender, ICICI Bank, plans to focus more on growing its home and car loan portfolios in the months ahead and said its rates are competitive in the industry. (Tue, 18 Aug 2009 12:52:38 GMT)

Mortgage Co. Shutdown Leaves Homeowners Stranded
The federal government ordered Florida-based Taylor, Bean and Whitaker to stop its mortgage services, meaning many Maryland homeowners are without a lender. (Tue, 18 Aug 2009 15:44:01 GMT)

Two ex-Indy residents charged with mortgage fraud
An Indianapolis real estate investor faces charges in a mortgage fraud case that led to a string of foreclosures on the city's east side. (Tue, 18 Aug 2009 15:45:56 GMT)

Big five dominate mortgage market
The UK's five biggest mortgage lenders accounted for nearly three-quarters of all lending during 2008 as smaller players withdrew from the market, the Council of Mortgage Lenders (CML) has said. (Tue, 18 Aug 2009 16:14:38 GMT)

Mortgage delinquencies reach heights, but pace slows
NEW YORK -- The delinquency rate on U.S. mortgage loans hit an all-time high in the second quarter, but the pace of growth slowed, a possible sign the mortgage crisis may be beginning to turn the corner. (Tue, 18 Aug 2009 16:31:32 GMT)

Home Valley Bancorp Announces Restatement
GRANTS PASS, Ore.----Home Valley Bancorp , the holding company of Home Valley Bank, announced it will restate its December 31, 2008 audited financial statements as a result of recent examinations of the Company's loan portfolio performed internally by the Bank as well as by the Bank's regulators. (Tue, 18 Aug 2009 18:07:00 GMT)

Builder Can't Get Loan to Finish Show Home for 2010 International Builders' Show
NAHB has posted an article on its website detailing how its upcoming show home has become the "poster child" of the credit crunch that is affecting builders large and small across the country. The builder of the home is having trouble lining up a final draw to complete the home. (Tue, 18 Aug 2009 18:47:20 GMT)

Mortgage Industry Gains New Category of Servicing with Launch of Statebridge
DENVER, CO—August 18, 2009— Integrated Asset Services®, LLC (IAS®) ( www.iasreo.com ), a leader in default management and residential collateral valuation, announced today the launch of Statebridge. The new company will provide custom, high-touch investor-focused servicing for the mortgage industry. (Tue, 18 Aug 2009 18:52:12 GMT)

Ky. forces company out of mortgage business
The Kentucky Department of Financial Institutions Tuesday issued a cease and desist order against Taylor, Bean and Whitaker Mortgage Corp. (Tue, 18 Aug 2009 19:57:42 GMT)

Homeowners Fight for Loan Modifications from Swamped Mortgage Servicers
RISMEDIA, August 19, 2009-(MCT)-After losing his job in January, Stuart Miller has fought hard to keep his home out of foreclosure. At the end of May, the Plano, Texas, man began trying to get Wells Fargo & Co. to review his application for a loan modification. After making repeated calls, he ... (Tue, 18 Aug 2009 20:49:33 GMT)

Bond-backed mortgage loans back in Miss.
After nearly a year, the Mississippi Home Corp. is again issuing bond-backed mortgage loans, thanks to an easing credit market. (Tue, 18 Aug 2009 22:50:21 GMT)

Super-cheap home loans
TWO foreign banks operating in Singapore have just unveiled rock-bottom home loan deals in a bid to secure a bigger slice of the fast-growing mortgage market amid record private home sales. Market observers say it is too soon to say if a full-blown mortgage rates war will erupt - but the latest rates are sure to get the attention of home hunters. (Wed, 19 Aug 2009 01:40:04 GMT)

War on loan sharks
WITH guns blazing, Senior Minister of State (Law and Home Affairs) Ho Peng Kee on Tuesday declared war on loan sharks and called on Singaporeans to join in the fight. 'We recognise that we are in a battle of wits and nerves with determined loan-shark syndicates,' he said on Tuesday, making clear that the Home Affairs Ministry is on a relentless campaign to search and destroy the scourge of many ... (Wed, 19 Aug 2009 01:55:25 GMT)

Del. Mortgage Broker Faces Tax Charges
DOVER , Del. (AP)- A Superior Court grand jury has indicted a mortgage broker on charges he failed to pay income taxes on more than $700,000 earned from his brokerage activities. (Wed, 19 Aug 2009 02:36:20 GMT)

Mortgage Industry Gains New Category of Servicing with Launch of Statebridge
DENVER, COAugust 18, 2009Integrated Asset Services, LLC IAS www.iasreo.com, a leader in default management and residential collateral valuation, announced today the launch of Statebridge. The new company will provide custom, high-touch investor-focused servicing for the mortgage industry. Statebridges risk-based servicing will introduce a new adaptive approach... (Wed, 19 Aug 2009 03:17:59 GMT)

Mortgage Specialist Witherell Named Chief Operating Officer at Freddie Mac
After struggling for the better part of the year to create an enduring management team, Freddie Mac is finally rounding out its top ranks. (Wed, 19 Aug 2009 03:23:18 GMT)

Look into loan options
Now there's a big ask. How can anyone afford both a big mortgage and a family? While lower interest rates have eased home-loan affordability, there's no question that juggling a mortgage and a family can be tough. (Wed, 19 Aug 2009 04:03:30 GMT)

Welcome Home Loan scheme extended
First home buyers will be able to borrow more under the Welcome Home Loan mortgage insurance scheme. (Wed, 19 Aug 2009 04:08:50 GMT)

Welcome Home loan scheme extended
First home buyers will be able to borrow more under the Welcome Home Loan mortgage insurance scheme. read more (Wed, 19 Aug 2009 04:35:34 GMT)

The Rules of Refinancing Relief Changing
The rules of the relief refinance game are changing, giving hope to homeowners even when their bank chooses not to play. (Wed, 19 Aug 2009 04:53:44 GMT)

Herbert Steed, who once collected welfare while living in Trump Tower, charged in mortgage scam
Old con men never die - they just find a new scam. Herbert Steed, who famously went to jail in the '90s for collecting welfare while living large in a Trump Tower pad, is now charged with a fresh $1.5 million mortgage ripoff. (Wed, 19 Aug 2009 06:01:00 GMT)

Now, call and pay less on your home loan EMI
While interest rates on home loans have come down by four per cent some existing borrowers end up paying fatter EMIs. Here's how you can change all this. (Wed, 19 Aug 2009 06:43:36 GMT)

Capital-area mortgage companies combine
Davis-based Mortgage Resource Network has merged with Sacramento mortgage banker Comstock Mortgage, (Wed, 19 Aug 2009 07:03:37 GMT)

Nursing home loan practices scrutinized
St. Louis -- More than 90 Missouri nursing homes make payday loans to their employees at high interest rates, then deduct payment of the loan, interest and fees from the workers' next paychecks, officials with the Better Business Bureau said Tuesday. (Wed, 19 Aug 2009 08:06:19 GMT)

FSA bans and fines mortgage broker £70,000 for mortgage fraud
The Financial Services Authority (FSA) has banned a London mortgage broker, Grace Nmadibechi Ada Ukala, and fined her £70,000 for knowingly submitting false and misleading mortgage applications. (Wed, 19 Aug 2009 09:22:06 GMT)

Mortgage scam convict a no-show at sentencing
Alma Preciado was a prominent mortgage broker and a rising figure in Maryland politics who once served as a delegate for President George W. Bush, but on Tuesday she became a fugitive from justice. Preciado, 59, faced up to 10 years in prison for her role in a fraudulent loan deal that cost a retired couple $350,000. Yet when Montgomery County Judge Michael Algeo began her sentencing Tuesday ... (Wed, 19 Aug 2009 09:38:51 GMT)

Welcome Home Loan scheme extended
First home buyers will be able to borrow more under the Welcome Home Loan mortgage insurance scheme. (Wed, 19 Aug 2009 09:54:15 GMT)

Flagstar May Have to Sell Mortgage-Billing Contracts for a Loss
Aug. 19 (Bloomberg) -- Flagstar Bancorp Inc. , the Michigan lender whose January takeover sparked scrutiny of buyout firms’ role in the banking industry, may be forced to sell some of its $658 million of mortgage-collection contracts at a loss, people briefed on the matter said. (Wed, 19 Aug 2009 09:55:03 GMT)

Pitkin County considers backing a loan for Woody Creek homeowners
PITKIN COUNTY - Pitkin County commissioners declined Tuesday to bail out Woody Creek Mobile Home Park homeowners to the tune of more than $800,000, but then softened their stance and indicated they might be willing to back a loan on the... (Wed, 19 Aug 2009 11:01:15 GMT)

US MBA Mortgage Survey Snapshot
WASHINGTON (Dow Jones)--Following is data from the Mortgage Bankers Association of America's weekly mortgage application survey, released Wednesday. (Wed, 19 Aug 2009 11:15:21 GMT)

US MBA Mortgage Survey Table Of Current Interest Rates
Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 5.35 0.98 5.15 -22 -16 -132 15-Year Fixed 4.76 0.93 4.52 -18 -28 -147 ARM, 1-Yr Tsy 6.68 0.07 6.66 -5 16 -9 FHA 203 (b) 5.27 1.05 5.09 -31 -37 -134 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 19 Aug 2009 11:16:01 GMT)

Mortgage applications rise after rates fall: MBA
Data from the Mortgage Bankers Association show homeowners much more sensitive to moves in interest rates. Large swings in rates over the past month have resulted in "see-saw like activity" in the volume of refinancing applications filed, but applications to purchase homes have continued to increase gradually. (Wed, 19 Aug 2009 11:27:29 GMT)

(AFX UK Focus) 2009-08-19 12:15 US mortgage applications rise as rates plunge-MBA
By Julie Haviv (Wed, 19 Aug 2009 11:38:41 GMT)

U.S. mortgage applications rise as rates plunge: MBA
U.S. mortgage applications rose last week, largely reflecting a jump in demand for home refinancing loans as interest rates slid to a five-week low, data from an industry group showed on Wednesday. (Wed, 19 Aug 2009 11:44:58 GMT)

U.S. MBA Mortgage Applications Index Rose 5.6 Percent Last Week
Aug. 19 (Bloomberg) -- Mortgage applications in the U.S. rose last week as lower borrowing costs sparked purchases and refinancing. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan increased 5.6 percent to 527 in the week ended Aug. 14, from 499 in the prior week. (Wed, 19 Aug 2009 11:51:04 GMT)

Mortgage applications jump 5.6% as rates slide
Mortgage applications jumped 5.6% the week ended Aug. 14 from a week earlier as average mortgage rates fell, the Mortgage Bankers Association (MBA) said Wednesday. (Wed, 19 Aug 2009 12:52:47 GMT)

U.S. MBA Mortgage Applications Index Rose 5.6 Percent Last Week
Aug. 19 (Bloomberg) -- Mortgage applications in the U.S. rose last week as lower borrowing costs sparked purchases and refinancing. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan increased 5.6 percent to 527 in the week ended Aug. 14, from 499 in the prior week. (Wed, 19 Aug 2009 13:19:34 GMT)

MBA Reports Mortgage Applications Rise While Interest Rates Decrease
(RTTNews) - U.S. mortgage applications rose last week as interest rates decreased, increasing the affordability of home purchases and refinancing, according to data released by the Mortgage Bankers Association on Wednesday. (Wed, 19 Aug 2009 13:36:07 GMT)

MBA: Mortgage Applications Rise as Rates Plunge
MBA: Mortgage Applications Rise as Rates Plunge (Wed, 19 Aug 2009 14:13:44 GMT)

Mortgage rates down, applications up
Mortgage applications rose last week as interest rates fell, both in Colorado and across the nation. (Wed, 19 Aug 2009 14:48:38 GMT)

U.S. mortgage applications rise as rates plunge
U.S. mortgage applications rose last week, largely reflecting a jump in demand for home refinancing loans as interest rates slid to a five-week low. (Wed, 19 Aug 2009 15:15:11 GMT)

Flagstar May Have to Sell Mortgage-Billing Contracts for a Loss
Aug. 19 (Bloomberg) -- Flagstar Bancorp Inc. , the Michigan lender whose January takeover sparked scrutiny of buyout firms’ role in the banking industry, may be forced to sell some of its $658 million of mortgage-collection contracts at a loss, people briefed on the matter said. (Wed, 19 Aug 2009 15:45:41 GMT)

Mortgage Applications Rise as Rates Plunge
Mortgage applications rose last week, largely reflecting a jump in demand for home refinancing loans as interest rates slid to a five-week low, data from an industry group showed on Wednesday. (Wed, 19 Aug 2009 16:10:27 GMT)

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